Fiscal Year End Update July 27, 2016 presenter - Sheri Hardison, Assistant Vice President for Financial Affairs & Controller Overall Thoughts FY15 closing was smoother but still difficult All deadlines will be strictly enforced for FY2016 How Can You Help Review cost center/project activity now Process transfers, corrections and COA maintenance requests now Year-End General Highlights Year end balance reports will be sent after July close
Most Special Items, must have their FY 2016 funding fully expended by August 31. Examples are: SBDC, Core Research, Institute of Texan Cultures, etc. Materiality factor increased to > $3,000 per item - Vouchers for $3,000 or less must be to DTS by 08/23/16 at 5pm to be included in FY15/16 expenses Year-End Deadlines - Accounting August 19 Corrections through July due to Accounting Services by 5pm September 6 Inventory Reconciliation due to Accounting Services by NOON
September 6 IDT for services rendered for FY16 must be received in Accounting Services September 12 Corrections for August due to Accounting Services by NOON NOTE: Once deadline has passed, any prior year corrections involving cost centers will be required to be handled as a budget transfer. Year-End Deadlines - DTS
July 15 Departments must route electronically ALL Non-PO vouchers and submit all Expense Reports to DTS from September - June (reimbursements, travel advances, Participant advances, athletic advances, travel card payments, student travel expenses) July 22 Departments must route electronically ALL Non-PO vouchers and submit all Expense Reports to DTS from July 1st -July 15th (reimbursements, travel advances, participant advances, athletic advances, travel card payments, student travel expenses) August 10 Departments must route electronically ALL Non-PO vouchers and submit all
Expense Reports to DTS from July 16th July 31st (reimbursements, travel advances, participant advances, athletic advances, travel card payments, student travel expenses) August 19 Departments must route electronically ALL Non-PO vouchers and submit all Expense Reports to DTS from August 1st- 15th , (reimbursements, travel advances, participant advances, athletic advances, travel card payments, student travel expenses) August 23 Departments must route electronically ALL Non-PO vouchers and submit all Expense Reports to DTS for any expenses incurred from August 16th to August 21st August 23
Non-PO vouchers and Expense Reports to be expensed in FY15/16 for $ 3000 or less must be submitted (Expense Reports) or electronically routed (Non-POs) to DTS August 25 ALL remaining Expense Reports after August 15th must be submitted and routed to DTS if expensed out in FY15/16 (reimbursements, travel advances, participant advances, athletic advances). August 30 Last check run at noon for FY15/16 September 1
FY2017 open for processing Year-End Deadlines - Procard August 5 Transactions for August 3rd statement ready for reconciliation and approval August 12 Recommended: Last day to charge using Pro-Card for FY15/16 August 19
Departmental approval due by 5:00pm for August 3rd statement September 6 Procard transactions for September 3rd statement ready for reconciliation and approval. September 8 All Procard reconciliations completed and approved by noon on Thursday, September 8th will be processed for payment. Any amounts over $3000 will be included in the AP accruals and charged to FY 15/16. Any Procard transactions not processed by the required date and time, will be charged to FY 16/17.
Note: UTSA has no control over the vendors or the banks credit card processing and posting dates. Although a Procard may be used, the bank may not process the transaction(s) for several days. Please process all Procard transactions as early as possible. Purchasing & Distribution Services IMPORTANT FY15-16 YEAR-END DATES July 8th Last day Purchasing will accept an approved requisition/purchase order request Over $50,000 using FY15-16 Funds** August 5th Last day Purchasing will accept an approved requisition/purchase order $15,000 and
above using FY15-16 Funds** August 16th Last day Departments can submit a Purchase Order Correction (POC) for FY15-16 payment. August 26th Last day Departments can create and approve** a requisition/purchase order below $15,000 *Purchasing will not process any requisition received after the deadlines stated above. Orders received after these deadlines will be returned and asked to be recreated on Sept. 1st. ** All workflow approvals (budget, commodity, and foreign vendor) must be completed by COB (close of business) of deadline date.
Dates and process for creating FY17 purchases (prior to 9/1) have not been established. Updates will be communicated and posted on the Purchasing website. * http://www.utsa.edu/pds/ 63 What to Review Now Monthly MFR reconciliation and review Open encumbrance Travel Authorizations for department travelers By Cost Center: UTS_TE_TAUTH_OPEN_ENC_BY_CC By Department: UTS_TE_TAUTH_OPEN_ENC_BY_DEPT By Project ID: UTS_TE_TAUTH_OPEN_ENC_BY_PROJ
Run the following PeopleSoft queries to review PO encumbrance balances. Departments should only focus on FY16 encumbrances. UTS_PO_OPEN_ENC_BY_CC UTS_PO_OPEN_ENC_BY_DEPT UTS_PO_OPEN_ENC_BY_PROJECT Other Year-End Items
See the full year-end workshop presentation for many other year-end items and important reminders, including Commitment Accounting deadlines for DBTs Payroll timekeeping deadlines Year-end information from HR as well as information regarding Fall hires, terminations and leave balances Link to year-end workshop slides and calendars on Office of Controller website main page: http://www.utsa.edu/financialaffairs/controller/ Fiscal Management Certification & Management Sub-Certification Updates
FY2016 Certification Process The Fiscal Management Sub-Certification and Management Certification (Certification) is required by all Department Managers per UT System policy 142.1. UTS 142.1 highlights the importance of reconciling Cost Centers/Project IDs (Cost Center) as well as establishing adequate segregation of duties and internal controls. The Certification is distributed every fiscal year. FY2016 Certification Process The Certification will be distributed in mid September and given two weeks for completion. Sent via email from [email protected] Department Managers will receive a link in the email to access the Certification in
addition to an attachment that lists their Cost Center(s). To access the Certification, Department Managers log in with their myUTSA ID (abc123) & password Example of the Certification Important Items to Highlight Encourage your Department Managers to complete the Certification timely (2 week deadline) VPs will be notified approximately 2 weeks after the deadline of those who are listed as incomplete If there is a Department Manager change on Sept 1st, the Department Manager prior to Sept 1st is still
responsible for certifying for FY16. Important Items to Highlight To change a Department Manager, please complete the form: Chart of Accounts Maintenance Request Form The Certification plays an important roll in the Quality Assurance Review (QAR) process. The QAR process is currently underway and selected Department Managers will be met with during FY16-17. These answers on the Certification are reviewed prior to each QAR and will be validated during the review; in particularly the reconciliation questions. Contact Information Diana Macias-Ollervidez
Assistant Controller Office of the Asst. Vice President/University Controller x6915 [email protected] Sarah Remmert Compliance Management Analyst II Office of Institutional Compliance and Risk Services x4989 [email protected] Questions
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